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After seasonal adjustment GDP rose by 2.4 percent as compared to the fourth quarter of 2013 and by 0.6 percent in comparison with the previous quarter.

The volume of GDP at current prices in the fourth quarter of 2014 reached €19,265.5 million what represented the increase by 2.7 percent in comparison with the same quarter of 2013.

Total employment in the reference period reached 2,241.9 thousand persons. In comparison with the fourth quarter of 2013 it increased by 2.1 percent. Seasonally adjusted total employment rose by 2.1 percent as compared to the fourth quarter of 2013 and by 0.6 percent as compared to the three quarter 2014.

In January 2015, a year-on-year inflation was reduced by 0.4 percent in total. Core inflation went down by 0,2 percent and net inflation went up by 0.3 percent.

In January 2015, compared with December 2014, core inflation affected the total inflation by 0.17 percentage points (p.p.), regulated prices by -0.27 p.p. and indirect taxes did not have an impact on the total inflation. Food prices influenced the core inflation by 0.14 p.p. and net inflation impacted the core inflation by 0.03 p.p.

After the Agriculture Ministry lifted its embargo, it turned out that the companies of Italians suspected of ties with ’Ndrangheta received subsidies worth millions of euros, through the Agricultural Paying Agency.